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The bosses of Cineworld, which owns Regal, will collect $35 million, the Financial Times reported. A source told Insider the payout is intended to help smooth CEO Mooky Greidinger's departure. UK-based Cineworld bought Regal, the second-biggest US movie theater chain, for $3.6 billion in 2017. Another source told the Financial Times the expected departure of the Greidingers was still a form of "comeuppance" despite the payout. A search is being conducted to identify a new CEO, the source told Insider.
Persons: Cineworld, Mooky Greidinger, Greidinger, Israel Greidinger, Nisan Cohen, Renana Teperberg Organizations: Financial Times, Morning, Regal, Canada's Cineplex, Eastgate, Cineworld
Cineworld has sought to exit its leases for 130 theaters in the US. A bankruptcy court in Texas has already approved its plan to walk away from 47 of those locations. Cineworld filed for Chapter 11 bankruptcy in September. So far, the Texas bankruptcy court overseeing the proceedings has approved the company's plan to exit 47 leases, according to court filings. The North American box office hit $7.4 billion in 2022, according to Comscore, down from over $11 billion in 2019 and 2018.
Camarillo: Camarillo Village Square, 2450 Las Posas Road, Ste HCamarillo Village Square, 2450 Las Posas Road, Ste H Roseville: Fairway Commons Shopping Center, 5771A Five Star Blvd. San Diego: Pacific Plaza Shopping Center, 1772‐D Garnet AvenuePacific Plaza Shopping Center, 1772‐D Garnet Avenue Woodland Hills: Pride Shopping Center, 22950 Victory Blvd. Winston-Salem: Whitaker Square Shopping Center, 1947 North Pease Haven Road, Space #1947Whitaker Square Shopping Center, 1947 North Pease Haven Road, Space #1947 Matthews: Windsor Square Shopping Center, 9945 E. Independence Blvd. ; Westhill Village Shopping Center, 7525 WestheimerWeslayan Plaza West Shopping Center, 5442‐A Weslayan Street; Westheimer Commons, 12568 Westheimer Rd. ; Westhill Village Shopping Center, 7525 Westheimer El Paso: West Towne Marketplace, 6450 N. Desert Blvd., Ste.
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